Loan EMI Calculator

What is EMI?

EMI (Equated Monthly Installment) is the fixed amount you pay each month to repay a loan — covering both principal and interest. The amount stays the same throughout the loan tenure (assuming a fixed rate), but the split between principal and interest shifts: early payments are mostly interest, later payments are mostly principal.

The formula

EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)

• P = principal loan amount
• r = monthly interest rate (annual rate ÷ 12 ÷ 100)
• n = total number of monthly installments (years × 12)

How to use this

• For a home loan: typical tenure 15-30 years. Rates vary 4-9% depending on country.
• For a car loan: typical 3-7 years. Rates 5-10%.
• For a personal loan: typical 1-5 years. Rates 10-20%.

Things this calculator doesn't include

• Processing fees (typically 0.5-2% of principal)
• Pre-payment penalties
• Property taxes, home insurance, PMI (US) or other escrow items
• Variable rates — assumes a constant rate throughout

Use this for planning, not for final decisions. Always confirm exact numbers with your lender.